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Colliers Brokers $7M Austin Retail Sale

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Senior Vice President Jon Busse and Executive Vice President Volney Campbell assisted the seller.

Colliers International has arranged the $7.4 million sale of a fully leased retail property in Austin, Texas. Senior Vice President Jon Busse and Executive Vice President Volney Campbell represented the seller. Pegasus Investments Managing Directors Brad Kritzer and David Chasin assisted the buyer. The two parties, both private investors, closed the transaction through a 1031 exchange.

The 12,900-square-foot property is occupied by CVS, which has 13 years remaining on its 25-year lease. Located at 4001 W. William Cannon Drive, the asset is within a dense retail corridor, while Downtown Austin is 8 miles away. Shops at Arbor Trail is adjacent to the pharmacy and features a tenancy including Costco, Wells Fargo, Whole Foods, Capital One, Sprint and Marshalls, among others. 

Last month, another Colliers International team brokered the sale of a single-tenant retail property in Hoquiam, Wash. The Rite Aid-leased asset sold for $7.5 million.


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Jon Busse

Brokerage Senior Vice-President

Carlsbad

Jon Busse provides investment real estate counsel and representation to institutional owners, high net worth individuals, syndicators and developers. Since 1983, Jon has continuously specialized in the sale of investment real estate with over $1 Billion of transactions including the representation of 30 different institutional owners. Since 2003, Jon has focused primarily on high credit, single tenant, NNN leased retail properties and larger multi-family properties throughout the United States.

Multi-Family Properties    $404,000,000

Industrial Properties     $192,000,000

Retail Properties      $322,000,000

Office Properties     $112,000,000

Expert in evaluating the risk of high credit, single tenant, NNN leased properties nationwide with a special understanding of financing sources and alternatives. I have a unique background of having brokered multi-tenant office, retail, industrial and multi-family investment properties. This enables me to compare and contrast the different asset classes to help clients make the best possible investment property decisions. 

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